BusinessPhoto: Business StandardArtha Bharat Moves Two GIFT City Funds to Abu Dhabi Over Tax Issues
Artha Bharat Investment Managers IFSC, managing over $800 million in GIFT City, is relocating two funds to Abu Dhabi Global Market due to tax uncertainty and compliance challenges. The $112 million Artha Global Multiplier Fund, targeting US consumer investments and open to NRIs, and the Artha Bharat Absolute Return Fund, an Indian securities arbitrage fund, will move. CEO Sachin Sawrikar cited disallowed tax deductions under Section 80LA and complex Indian tax rules as reasons.
Business Standard··Gandhinagar



